Free Trial

November Economic Activity Expected To Recover

BRAZIL
  • In Brazil, the economic activity index will likely show some recovery in November. The BCB’s economic activity index known as IBC-Br is estimated to have risen by 0.70% in November on a monthly comparison, following a 0.40% drop in October. Seen as a monthly GDP reference, report will be disclosed at the top of the hour.
  • Base effects and waning relief from fewer infections and lockdowns should explain the recovery. Abating fiscal and monetary stimulus and political noise will also have contributed.
    • 1200GMT/0700ET: Nov. Economic Activity M/m, est. 0.70%, prior -0.40%
    • 1200GMT/0700ET: Nov. Economic Activity Y/y, est. 0.50%, prior -1.48%
  • Elsewhere, Economy Minister Guedes attends meeting with Ministry’s Special Secretaries before meeting with Privatization Secretary Diogo Mac Cord. President Bolsonaro is also scheduled to speak with lawmakers and ministers and therefore newsfeeds will be monitored for any pertinent headlines.
  • Late Friday, Brazilian governors decided to restore the state-level ICMS tax on fuels as of February, UOL news website reports, citing an agreement struck by the National Committee of State Secretaries of Finance known as Comsefaz. (BBG)
    • For reference, in November, governors withdrew the ICMS tax on fuels in an effort to lower gasoline prices.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.